Trump’s crypto bank is 49% owned by the UAE’s ‘spy sheikh’ and it just got a federal charter

Sheikh Tahnoon bin Zayed al Nahyan, the UAE’s national security advisor and brother of its president, holds the single largest stake in WLTC Holdings through StringZ Holding RSC. The Trump family owns 38%. On August 14, the OCC granted this entity preliminary conditional approval for a federally regulated national trust bank to issue and redeem USD1, a stablecoin with more than $4 billion in circulation. In the same administration that loosened AI chip export caps to the UAE, $263 million from the original deal has already flowed to Trump family entities. Summary StringZ Holding RSC, backed by Sheikh Tahnoon bin Zayed al Nahyan and co-investors, owns 49% of WLTC Holdings, the holding company behind the proposed World Liberty Trust Company. An entity affiliated with the Trump family owns 38%. The Office of the Comptroller of the Currency granted preliminary conditional approval on August 14, 2026 for a national trust bank that will issue, redeem, and hold reserves for the USD1 stablecoin, currently the fourth largest stablecoin with more than $4 billion in circulation. Trump’s 2025 financial disclosure, released in July 2026, showed $1.4 billion in crypto-related income, including $...